German Industry Icon Touched by SPAC Fever in $300 Million Raise
- Targets could be in Europe or the U.S., worth over $1 billion
- Constellation is latest example of IPOs of investment vehicles
Klaus Kleinfeld
Photographer: Jason Alden/Bloomberg
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A blank-check company led by former Siemens AG Chief Executive Officer Klaus Kleinfeld is looking to buy or invest in a sizable firm after raising $300 million in a stock-market listing.
“We’re screening Europe, especially the German-speaking region, and the U.S. for targets for either a full takeover or a stake,” Kleinfeld said in an interview. Only companies worth at least $1 billion would be interesting, he added.